Energy Update
* Iran April crude imports up 67 pct y/y
* Jan-April oil imports from Iran up 99 pct y/y
* Total crude imports in April 12 mln T, up 13 pct y/y
SINGAPORE, May 13 (Reuters) - Asia's refined product markets
are being swamped by a wave of gasoline as a long-lasting crude
oil glut spills into the one fuel market refiners had hoped
would save them, ruining margins and dragging down share prices
across the region.
Brazilian state-run oil company Petroleo Brasileiro (Petrobras) has signed an agreement to divest its 67.19% stake in its Argentina subsidiary to Pampa Energia for $892m.
Rosneft and Vietnam Oil and Gas Group (PVN) PetroVietnam have signed a cooperation agreement.
Tiotal has inaugurated the Laggan-Tormore project at the Shetland Gas Plant in the presence of government and industry partners including Amber Rudd MP, the UK Government Secretary of State for Energy and Climate Change and Patrick Pouyanne, Chairman and CEO of Total.
May 15 (Reuters) - Norway's sovereign wealth fund, the
world's largest, said on Sunday it plans to join the
class-action lawsuits filed against Volkswagen AG
over the German automaker's emissions scandal.
LONDON/LAGOS, May 15 (Reuters) - The growing fleet of
tankers stuck off Nigeria unable to unload their cargoes of
diesel and petrol is an even-present reminder for President
Muhammadu Buhari that another fuel crisis is looming on the
horizon.
ABU DHABI, May 15 (Reuters) - Abu Dhabi's state-owned
National Oil Co (ADNOC) plans to cut 5,000 jobs by the end of
the year, and 2,000 of the lay-offs have already been carried
out, Middle East news service MEED reported on Sunday.
DUBAI, May 15 (Reuters) - Major Middle Eastern stock markets
fell on Sunday after Moody's cut the debt ratings or outlooks of
many countries, while Dubai construction firms dropped steeply
after reporting first-quarter earnings.
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